Hopefully, they’ll just sell those shares to Maxotel and put an end to this embarrassing saga. But then again, you have to wonder—what’s the worst thing they could do next in their mission to tank our share price?Probably throwing another ~$2 million into the Vonex CR announced today.
The value of our investment is about to plummet, with the CR set at 0.037, while we could sell VN8 for 0.044 today. What’s stopping the Vonex board from doing another capital raise in six months and grabbing even more of our cash?
Best-case scenario: we’re out with a tidy ~$400k profit. Mid-case we are diluted and value drops. Worst-case scenario: we’re in for ~$6 million while Alex West collects $750k a year, yapping to reporters about how SWP isn’t cash flow positive —but, hey, we have lots of assets to sell and more acquisition targets in sight just all our cash is tied up paying for his lifestyle and decisions...
I'm still a hold but only if they get out of this mess otherwise this is the iceberg that eventually sinks this ship...
SWP Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
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